Question

The hire purchase price of a refrigerator is $6509.A deposit of $500 is made and the reminder is paid in equal monthly payments of $250. Calculate the number of monthly payments that must be made.

Answer 1

hire purchase= $6509

deposit=$500

monthly payment=$250

no of monthly payment that must be made=hire purchase - deposit divided by monthly payment

$6509-$500/$250=$6009/$250= 24.036 month

Answer 2

Explanation:

The hire purchase price of a refrigerator is $6509.A deposit of $500 is made and the reminder is paid in equal monthly payments of $250. Calculate the number of monthly payments that must be made.

amount paid over x months:

$6509 - $500 = $6,009

Equal payments of $250:

$6,009 / $250 = 24.036 months of payments

[Depending on if they want the answer rounded up, answer may become 25]